Qiniu Limited — M&A Activity 2012

Mar 30, 2012

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

SIBERIAN MINING GROUP COMPANY LIMITED 西伯利亞礦業集團有限公司 [*]

(incorporated in the Cayman Islands with limited liability)

(Stock code: 1142)

COMPLETION OF MAJOR DISPOSAL

The Board is pleased to announce that the condition precedent of the Disposal as set out in the Agreement has been satisfied, and the Disposal was completed on 30 March 2012 in accordance with the terms and conditions of the Agreement.

Reference is made to the circular of Siberian Mining Group Company Limited (the “ Company ”) dated 8 March 2012 (the “ Circular ”) in relation to the Disposal. Unless otherwise stated, terms used in this announcement shall have the same meanings as those defined in the Circular.

COMPLETION OF THE DISPOSAL

The Board is pleased to announce that the condition precedent of the Disposal as set out in the Agreement has been satisfied, and the Disposal was completed on 30 March 2012 in accordance with the terms and conditions of the Agreement.

Pursuant to the Agreement, the Company as the vendor has sold and Netcore Co., Ltd as the Purchaser has acquired the Sale Shares, representing the entire issued share capital of DNC, at a consideration of HK$100,000 which has been received in full by the Company upon Completion. Upon Completion, the Company ceased to hold any equity interest in the Disposed Group and the Disposed Group ceased to be subsidiaries of the Company and their loss-making operating performance ceased to be consolidated into the consolidated financial statements of the Group.

By Order of the Board Siberian Mining Group Company Limited Lim Ho Sok Chairman

Hong Kong, 30 March 2012

As at the date of this announcement, the Board consists of Mr. Lim Ho Sok and Mr. Shin Min Chul as executive Directors, Mr. Pang Ngoi Wah Edward as non-executive Director, and Mr. Cho Min Je, Mr. Liew Swee Yean, Mr. Tam Tak Wah and Mr. Young Yue Wing Alvin as independent non-executive Directors.

This announcement will remain on the website of the Stock Exchange at www.hkexnews.hk on the “Latest Listed Company Information” page for at least 7 days from the date of its posting and on the Company’s website at www.ilinkfin.net/siberian_mining.

* For identification purpose only